Ecs3702 exam pack - Study guides, Study notes & Summaries
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ECS3702 EXAM PACK 2023
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ECS3702 EXAM PACK 2023 200+ QUESTIONS AND CORRECT ANSWERS WITH SUMMARISED NOTES.
- Exam (elaborations) • 250 pages • 2023
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onlinetutor2023
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- R60,05
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ECS3702 EXAM PACK 2023 
200+ QUESTIONS AND 
CORRECT ANSWERS 
WITH SUMMARISED NOTES. 
Question 1a 
Briefly Explain the Following terms 
(a) Absolute Advantage 
Absolute advantage is the ability of a country to produce a greater quantity of a good 
or service with the same quantity of inputs per unit of time, or to produce the same 
quantity of a good or service per unit of time using a lesser quantity of inputs, than 
another entity that produces the same good or service. 
(b) Factor Intensity 
T...
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the document has the latest questions and elaborate answers
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